News of the largest ever crypto hack had the potential to roil markets Friday, but one analyst was surprised at how prices reacted.
“I would’ve thought that the whole crypto landscape would've been down quite a bit on this news of a major Japanese exchange getting hacked,” said Michael Graham, senior equity analyst at Canaccord Genuity. “I think that the fact that the crypto markets are sort of being resilient in the face of the potentially biggest hack on one of the crypto exchanges is pretty interesting.”
His statements come after Tokyo-based crypto exchange Coincheck confirmed it loss more than $500 million worth of NEM tokens. That could make it larger than the infamous Mt. Gox hack of 2014, which saw $340 million stolen from digital wallets. At the time, though, that accounted for a much larger portion of the crypto market.
Graham did have advice for investors worried their assets could be compromised.
“Most people recommend, if they’re owning a material amount of the crypto assets, put those in cold storage, which means just buy a wallet that you can take off the network and store in a safe place in your home. And that way it’s absolutely immune to attack.”
For full interview [click here](https://cheddar.com/videos/why-major-cryptocurrencies-are-having-a-relatively-flat-week).
Stocks were mixed in Tuesday's early session as Wall Street came off a strong rally last week.
Google on Monday confronted the second major U.S. antitrust trial in two months to cast the internet powerhouse as a brazen bully that uses its immense wealth and people's dependence on one of its main products to stifle competition at consumers' expense.
Hilton Grand said it's in the process of purchasing Bluegreen Vacations in a $1.5 billion deal.
Walt Disney Co. named former PepsiCo veteran Hugh Johnston as its new chief financial officer.
The PlayStation 5 Slim will be reportedly released on Friday.
With the holiday season approaching, many are in the market for a new TV. Cheddar News breaks it all down.
Credit card usage is sure to tick up ahead of the holiday season. With cashback, airline miles and points to be earned, reward credit cards could give you a bonus. Grant Gallagher, associate vice president and head of financial well-being with Affinity Federal Credit Union, spoke with Cheddar News about why it's important to take advance of those rewards.
Tesla is increasing wages for factory workers in Germany.
People are making travel plans and booking tickets as the holiday season nears. Johannes Thomas, CEO of Trivago, joined Cheddar News to provide tips on saving when booking lodging ahead of Thanksgiving and Christmas.
Elon Musk unveiled 'Grok,' his new A.I. chatbot over the weekend, adding that it will be more rebellious than its counterparts. Cheddar News breaks it down.
